We previously wrote a short and handy guide to investing in Exchange Traded Funds (ETF) in the Philippines, but if you’re looking for additional information or wondering if ETFs are fit for you, then continue reading below.
Are income from Mutual Funds and UITFs taxable?
Question: Do I need to pay taxes on my earnings once I redeem my Unit Investment Trust Funds (UITFs) or shares of mutual funds?
Answer: No, as long as proper taxes have already been collected prior to the redemption of your UITF participation. That’s according to Senen Quizon, a tax manager at Punongbayan & Araullo, who wrote the article “Taxation of Unit Investment Trust Funds (UITFs)” published in Business World Philippines on August 2006.